In yet another attempt to privatize Israel’s national airline, the government announced plans this week to sell a 49 percent share of El Al Airlines on the Tel Aviv Stock Exchange in May. The rest of the airline would be sold later.
The government made a similar announcement a few years ago, only to cancel the sale in part because of objections from fervently Orthodox parties concerned that privatization would mean El Al would operate on the Sabbath and Jewish holidays. But Globes, an Israeli business publication, said the recent election in Israel has weakened their power. The issue however, has yet to be resolved and would affect the price of the stock.
The Israeli government would retain what is known as a "golden share" of El Al to enable it to commandeer the planes in national emergencies.
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